1. Insurance is mainly for financial protection
Life
Insurance is an essential financial commodity. It is not meant to be
bought only as a product for tax saving. Life Insurance is bought for
financial protection of the dependents of the insured and should be
treated as such.
2. Pay a premium you can afford !
Many
folks take on life insurance policies without realizing the feasibility
of these products. Premium needs to be paid on a regular basis. And
missed payments can lead to a lapsed policy. Thus a proper personal
financial inventory should be performed before buying a life insurance
policy
3. Read the fine print like your life depended on it !
That
is the only way us Indians will ever read the terms and conditions of a
policy. With so much legalese and that too written in such a small
font, it is a challenge to read it all. But kindly remember that that
tiny sub point that you missed in the T&C may lead to some serious
problems in the future.
No comments:
Post a Comment
So, what do you think?